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For those of you that don't know, the term bean counter is slang for a bookkeeper. Let's also define accounting and bookkeeping. Accounting is the art of analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. Bookkeeping is one of the components of accounting. Think of accounting as the mom and bookkeeping as one of her children. Bookkeeping is the process of recording and classifying business financial transactions (activities). In simple language-maintaining the records of a businesses or an individual's financial activities. Bookkeeping's objective is simply to record and summarize financial transactions into a usable form that provides financial information about a business.

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